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Dec 26, 2012 2:30am PST
time to avert the fiscal cliff before the new year. president obama will head back to washington tonight. danielle leigh is on capitol hill. good morning. does a deal still look doable? >> good morning. there is hope for a deal but confidence in that grand bargain reform has all but disappeared. americans are already taking a good hard look at their wallets as confidence the avoidance of the fiscal cliff diminishes. >> there is hope a deal will be cut. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >>
Dec 28, 2012 2:00am PST
schwarzkopf has died. >>> a fiscal milk cliff is looming. bears over the bruins in the holiday bowl. >>> good morning, even as the finger pointing continues on capitol hill this morning, new hope on a deal to avoid that fiscal cliff. president obama will be meeting with congressional leaders later today. danielle leigh joins us. >> that meeting in many ways a last opportunity for the president and congressional leaders to reach a deal and get something done before this year is over. if this meeting is unsuccessful it could seal this country's fate, as some developments yesterday. house members no longer on stand by. ready to come back sunday. to take a vote. when these tax cuts expire just about every worker is going to see their paycheck reduced. it's going to eliminate unemployment extensions and initiate spending cuts across the board. >> how will people see this in their paychecks and in their taxes? >> workers will feel it immediately in their paychecks. those paychecks will be reduced. those making 40,000, 50,000 are going to see 1700 less a year. it continues as the wages increase. so
Dec 26, 2012 2:00am PST
in the fiscal cliff diminishes. >> i don't think there is a grand bargain but hope a deal will be cut. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating for some and president obama left them $200 billion apart. >> the president was $200 billion higher on revenues and speaker boehner, $200 billion higher on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decisions ahead, six days left. >> lawmakers will likely take on spending reform and tax cuts when the debate heats up. >> looks like they will be working over the new year. >>> a note was left by a suspected shooter that killed two firefighters christmas eve in new york. more
Search Results 0 to 2 of about 3